Washington Real Estate Investment Trust said Thursday it has launched an offer to sell $250 million in senior unsecured notes due in 2020.

The offering was made under Washington REIT's shelf registration with the Securities and Exchange Commission.

the Rockville-based company said it plans to use net proceeds from the offering to buy back its 3.875 percent convertible senior notes due in 2026, and 5.95 percent senior notes due in 2011.

Separately, Washington REIT announced plans Thursday to buy back those notes, with more than $275 million in combined aggregate principal outstanding, in two cash tender offers.

Any remaining net proceeds from the debt offer, beyond those used to buy back the 2026 and 2011 notes, will be used to repay borrowings under Washington REIT's lines of credit for general corporate purposes.

Citi and Wells Fargo Securities will be the joint book-running managers for the offering.

Shares of Washington REIT fell 19 cents to $31.60 in afternoon trading.

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